Bradford & Bingley plc http://www.alacrastore.com/company-snapshot/Bradford_Bingley_plc-1045123 Sunday, September 07, 2008 2:09:42 PM 1045123 Bradford & Bingley plc en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/fitch/399348_report_framefitch/399348_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Bradford & Bingley plc803599309/3/2008 10:19:25 AM0101010001010700165Credit UpdateBB399348_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/431656_pr_framefitch/431656_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Bradford & Bingley plc803599309/1/2008 10:12:00 AM010101000101070085Press ReleaseBB431656_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/cs/73615cs/73615norm Euro Financial Movers: No Particular Place To Go The pessimism evident early in the week was partially dispelled by better than expected US GDP numbers, with equities performing better than bonds The tail end of the first half reporting...736151170YesD0Article32912033283773563601304357365366975corp1024727846403560Financial Movers9/1/2008 12:05:17 AM150Uncertainty still permeates the market after mixed messages from the economy and from bank earnings73615Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/ccbn/B1939835ccbn/B1939835norm...See Rights Issue through to its end and regain Co.'s position of one of the best capitalized banks in UK. ... 8/29/2008 2:09:43 PMBradford & Bingley plc106.0000EditedInterim 2008 Bradford & Bingley Plc Earnings Presentation SummaryBB.L9:30am UKTBriefB1939835Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/fitch/394036_report_framefitch/394036_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Bradford & Bingley plc803599307/23/2008 10:14:52 AM0101010001010700425Full Rating ReportBB394036_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/394038_report_framefitch/394038_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Bradford & Bingley plc803599307/23/2008 10:14:52 AM0101010001010700165Credit UpdateBB394038_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/spcred/660778spcred/660778normThe latest Full Report from S&Pglobalstructured7/22/2008 8:21:12 AM400Full Report660778United KingdomThrifts & Mortgage FinanceEurope, Middle East, AfricaGlobal IssuersStructured FinanceFinancial InstitutionsResidential MBSFull ReportFully secured loan book Good market share in specialist mortgages External support through proposed rights issue Expected good level of capital ratios following proposed rights issue Heightened pressure on liquidity and funding Escalating arrears on mortgage book, especially in self-certified lending Ongoing commitment to purchase third-party originated mortgages of potentially poorer quality Weak credibility and risk management following recent profit warning and uncertainty around long-term strategic direction Little diversification outside U.K. specialist mortgage sector Near-term margin pressure resulting from higher funding costs and liquidity requirements Structured assets may require further markdowns The ratings on Bradford&Bingley PLC (B&B) reflect heightened pressure on liquidity and funding, its recent rapid deterioration in asset quality, weak capital market credibility and risk management,GBR10421M1042ZM10421K10421N10421J10421340102010 401020 4010 40Bradford&Bingley PLC114972EUROMIDAFRBB/@LNFULLGLOBISSSTRUCFIRMBSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/660779spcred/660779normThe latest Summary from S&Pglobalstructured7/22/2008 8:21:12 AM175Summary660779United KingdomThrifts & Mortgage FinanceEurope, Middle East, AfricaGlobal IssuersStructured FinanceFinancial InstitutionsResidential MBSSummaryThe ratings on Bradford&Bingley PLC (B&B) reflect heightened pressure on liquidity and funding, its recent rapid deterioration in asset quality, weak capital market credibility and risk management, limited diversification, near-term margin pressure, and potential for modest further write-downs on structured assets. The ratings also reflect one notch of external support, the fully secured nature of its loan book, good share in chosen markets, and expected good level of capital ratios post its planned rights issue. B&B is the 10th-largest mortgage lender in the U.K., with £40.4 billion ($81 billion) of managed loans at Dec. 31, 2007. Asset quality has until recently been good by historical standards, but arrears showed a sharp rise in April 2008 raising doubts aboutGBR10421M1042ZM10421K10421N10421J10421340102010 401020 4010 40Bradford&Bingley PLC114972EUROMIDAFRBB/@LNSUMMARYGLOBISSSTRUCFIRMBSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/bir/480040bir/480040normBradford and Bingley PLCUnited KingdomFinance: To lend on residential and commercial property; operate as an independent retailer of mortgage, investment, and insurance products; offer residential estate agency and selected other property related services; offer a range of retail savings serv616260355222925221209FMBB7/19/2008 6:14:12 AM480040Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/storecontent/cs/71578cs/71578norm Euro Financial Movers: Bad News Is Better Out Than In Those that came through relatively unscathed from a horrible week were the issuers who have already got most of the bad news out there UK and Irish banks, which only report half-yearly,...715781551YesD0Article3748071234328360329356119112243573653551304366975corp244193100787240357/14/2008 12:07:28 AM150Issuers that have already quantified as much as possible of the bad news were the relative outperformers in a pessimistic stockmarket, even if their chief executives are feeling the heat for recent past performance.71578Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/71339cs/71339norm Euro Financial Movers: Downward Drift It was a relatively quiet week in terms of newsflow, pervaded once again by fears that there is worse to come Banks such as Deutsche and UBS tried to reassure the market about their #Q## results...178911913881286128732935538612241304corp193164416781009535464060Financial Movers7/7/2008 12:05:58 AM150Banks scramble to reassure the market that their 2Q08 results will not be as bad as feared...with limited success713391482YesD0Article80719241677367178771339Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/moodys/PR_158718_600065244moodys/PR_158718_600065244htmlGlobal Credit Research Rating Action # JUL #### Rating Action: Bradford & Bingley Capital Funding LP Moody's downgrades Bradford and Bingley's debt ratings to Baa#; Prime-# confirmed; LT ratings remain under review for possible downgrade...7/5/2008 12:19:04 AMhtmlBradford & Bingley Capital Funding LPBradford & Bingley plcBradford & Bingley Capital Funding LP; Bradford & Bingley plc6000652442183150.0000NewsRating ActionPR_158718_600065244Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/fitch/425395_pr_framefitch/425395_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Bradford & Bingley plc803599307/4/2008 2:13:00 PM010101000101070085Press ReleaseBB425395_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/425403_pr_framefitch/425403_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Bradford & Bingley plc803599307/4/2008 2:13:00 PM010101000101070085Press ReleaseBB425403_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/spcred/658075spcred/658075normThe latest News from S&Pglobalstructured7/4/2008 10:20:55 AM100News658075United KingdomThrifts & Mortgage FinanceEurope, Middle East, AfricaGlobal IssuersStructured FinanceFinancial InstitutionsResidential MBSNewsLONDON (Standard&Poor's) July 4, 2008--Standard&Poor's Ratings Services today commented on its CreditWatch status of Bradford&Bingley PLC (B&B). The 'A-2' short-term counterparty credit rating on B&B remains on CreditWatch with negative implications, where it had been placed on June 2, 2008. This follows the announcement of the withdrawal of private equity firm TPG from its agreement to purchase 23% of B&B's share capital. B&B announced last night that as a consequence of the withdrawal of TPG, the planned rights issue would be expanded to £400 million to compensate for the loss of this additional capital. The full £400 million is being underwritten by Citibank N.A. and UBS AG, and partially sub-underwritten by leading shareholders M&GGBR10421M1042ZM10421K10421N10421J10421340102010 401020 4010 40Bradford&Bingley PLC114972EUROMIDAFRBB/@LNNEWSGLOBISSSTRUCFIRMBSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/658076spcred/658076normThe latest Research Update from S&Pglobalstructured7/4/2008 10:20:55 AM175Research Update658076United KingdomThrifts & Mortgage FinanceEurope, Middle East, AfricaGlobal IssuersStructured FinanceFinancial InstitutionsResidential MBSResearch UpdateOn July 4, 2008, Standard&Poor's Ratings Services commented on its CreditWatch status of Bradford&Bingley PLC (B&B). The 'A-2' short-term counterparty credit rating on B&B remains on CreditWatch with negative implications, where it had been placed on June 2, 2008. This follows the announcement of the withdrawal of private equity firm TPG from its agreement to purchase 23% of B&B's share capital. B&B announced last night that as a consequence of the withdrawal of TPG, the planned rights issue would be expanded to £400 million to compensate for the loss of this additional capital. The full £400 million is being underwritten by Citibank N.A. and UBS AG, and partially sub-underwritten by leading shareholders M&G Investment Managers, LegalGBR10421M1042ZM10421K10421N10421J10421340102010 401020 4010 40Bradford&Bingley PLC114972EUROMIDAFRBB/@LNRESUPDGLOBISSSTRUCFIRMBSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/cs/71110cs/71110norm Euro Financial Movers: In A Bear Hug The bears were vindicated by a slew of bad news, including deteriorating economic conditions, monoline downgrades and bank capital issuance Barclays handled its capital raising much better than...711101327YesD0Article3603569758071143132420103613571234166460916771304corp19295241647872403560Financial Movers6/30/2008 12:06:23 AM150A drip feed of negative news on banks kept the markets in pessimistic mood71110Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/fitch/424778_pr_framefitch/424778_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Aire Valley Finance (No. 2) PlcBradford & Bingley plc80359930804434586/26/2008 2:16:00 PM01010100010107000303400085Press ReleaseBB424778_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/cs/70626cs/70626norm Euro Financial Movers: Moving Closer To Home Fears over US structured credit are being replaced by concerns about the impact on banks of slowing economies in  Europe, in particular from falling property markets Despite unusually high...706261015YesD0Article8073661304178935636032936512863551224357corp193164424781009546403560Financial Movers6/16/2008 12:05:31 AM150It was a volatile week for several European banks as opinions fluctuated regarding economic downturns, property markets and the need for capital raising.70626Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/fitch/389426_report_framefitch/389426_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Bradford & Bingley plc803599306/10/2008 2:13:50 PM0101010001010700165Credit UpdateBB389426_report_frameCredit & Investment ResearchFitch Research